tv Asia Business Report BBC News December 21, 2017 1:30am-1:43am GMT
you're watching bbc world news. i'm babita sharma. our top story. the british prime minister's deputy, damian green, has been sacked after making misleading statements about pornography found on his office computer. the british prime minister, theresa may, said it was with deep regret that she had asked him to resign. he has denied wrongdoing. donald trump's overhaul of the us tax system has been formally approved by both houses of congress. the president wasjoined by his republican colleagues to celebrate what's being seen as his biggest legislative success since taking office. and this story is trending at bbc.com. fans are gathering in seoul at the funeral of kim jong—hyun, to say goodbye to the south korean k—pop star. his death has triggered an outpouring of grief from fans all around the world. stay with bbc news. and our other headline here in the uk: following the collapse of two rape cases in a week, scotland yard has announced
it is reviewing dozens of other cases which are about to go to court. stay with us, more to come, but first, a here is rico hizon and asia business report. the worst passes its biggest overhaul the tax code in three decades. it a victory for trump, but what does that mean the asian? —— it is. and we hit the road to the future and find out which companies are leading the driverless car race. good morning, asia. hello, world. isa is a thursday, glad you could join us is a thursday, glad you could join us for another edition of asia business report. i am rico hizon. it is four days before christmas. we start off with the us and is president trump has filled his first
major legislative win as lawmakers passed sweeping overhaul to the tax code. it is the biggest change in more than three decades, he sent out his reaction to the news with this festive animated tweet. republicans say it is a win for corporations and will boost growth, while democrats, who oppose the plan, said it will blow out the national deficit. what will this new tax on all been naughty or nice for asia? and tax on all been naughty or nice for asia ? and economists tax on all been naughty or nice for asia? and economists said it could have a major impact on the region if us firms close up shop and move jobs back home. obviously, being positive for asia is the boost to growth in the us, which will obviously relate to increased demand in asia for exports, so that is the big positive. but yes, the corporate tax rate has gone down dramatically in the us and overtime, if those
countries do not get their tax rates down as well and are above the us, we may see some corporate to relocate back to the us. but you already have competitive tax rates, particularly in singapore, malaysia, hong kong, some major asian hubs. will this us tax plan pressure on asian central banks to raise tax rates ? asian central banks to raise tax rates? i don't think so, i would not be particularly concerned about that. i think progress is going to be very gradual, yes, it will increase the pressure on the us to raise interest rates. obviously, that means the hong kong authorities will have to follow suit, it is not particularly clear which way that will go. i think if anything, interest rate will remain up but not dramatically more so than would have been the case without this. shane oliver in sydney. about suffering a major blow at the hands of the european union's top court. the
decision being closely watched around the world, it has ruled silicon valley start—up is an ordinary transportation company and should be regulated as such. for more on this issue, i'm joined now by my colleague and fellow business reporter. ever is actually downplaying the ruling, saying it is not going to make much of a difference to their current operations, given they already comply with local transport regulations. at this case was first brought by barcelona, the taxi drivers's association there was complaining that it works was putting on fair competition and that unlicensed drivers were allowed to basically take on these jobs that uberand basically take on these jobs that uber and not pay taxes, compared to them. the ruling may influence something else, and that is the big economy, this is something that something else, and that is the big economy, uber; somei tsshnglggg' " jjj j a s???
start—ups to start their business here and grow, and technology will be at the forefront because of the drive of the government to be ten times faster than what is happening now. for us, it was a great launching platform from dubai to the world, and we are developing this technology not just for you and we are developing this technology notjust for you by and we are developing this technology not just for you by and the region, but for the world. —— dubai. it is the holiday season, it is the
perfect time for curling up on the sofa and binge watching some of your favourite programmes. according to netflix, he was consumed 140 million hours of programming per day for a whopping 1 billion hours per week over the past year. —— or a. the most binge watched show, or as you call it the most watched programme over two hours at a time, was american vandal in the us, whereas here in singapore, it was a korean drama which had viewers‘s boat. earlier, i spoke withjessica lee of netflix and a ask her if she is
concerned about the company's future. i think there are a few things to remember. there are things that are still going to be on our library for a few years, and at the end of the day, we are delighted that people are continuing to look at more streaming platforms, as a platform that you need to be on, because more people that stream and use video on demand, it is better for us because that habit is growing, and that is the reason can she getting to the high number of hours that we have. and really, people love streaming because it is about being in control, watching when you want to watch. with amazon coming in and hulu, that will basically cut your marketshare.” basically cut your marketsharelj think that he used to watch tv, you had channel five, bbc and everything, now you have different streaming platforms. at the end of the day, it is good that we are
different streaming channels, good for the consumer. let's have a look 110w for the consumer. let's have a look now at the regional market, currently lacklustre, mostly in negative territory. investors are taking profits after the us fell into negative territory. overnight, and at the holiday season, the dow jones lower by eight on the nasdaq giving back about three points. thank you so much for investing your time with us. have a wonderful christmas, everyone. iam rico hizon. bye for now. the top stories this hour: britain's deputy prime minister damian green has been sacked over misleading statements about porn found on his office computer. sweeping tax changes have been approved by congress. donald trump says it will boost the economy. homelessness in england
is a "national crisis" according to a group of mps. more than 9000 people are sleeping rough and a further 78 -- 78,000 families are in temporary accomodation. the committee of mps says that government efforts to tackle the issue are an ‘abject failure'. the government says it's providing more than a billion pounds, in the next two years, to reduce homelessness. andy moore reports. when his dad was made homeless, seven—year—old billy lived part—time with him in one room of this emergent the shelter. he had his own bed, his dad used to folding bed. this is tough enough for an adult to be here, but to be uber the child and remain strong is difficult. he should not be here. he should not be here at all. i am doing what i can
do to bea here at all. i am doing what i can do to be a parent to him, under these circumstances. this report says the problem of homelessness has been growing for years, with a number of people in short—term accommodation at a 60% since 2010. the mps say there is an unacceptable shortage of realistic housing options. there are estimated to be 9000 people sleeping rough on the streets every night, that is more than double the number in 2011. there are further 78,000 families living in temporary accommodation, often of poor standard and that includes 120,000 children. the committee has described the situation as shameful and has called on the government to focus on the supply and affordability of decent housing. you need to stop being complacent about this, it is not enough also to just throw money at it. it needs to be money that is fixing the core root of the problem, that looks at why people are homeless in the first place, critically, you need to be building
more houses, yes, but they need to be truly affordable houses. the committee now wants the government come up with a strategy for tackling theissue come up with a strategy for tackling the issue by the of next year. labour said this report showed that the conservatives have caused the crisis of rapidly rising homelessness but had no plans to fix it. billy and his dad had now found somewhere permanent to live, there are many others who will not have a place they can call home over christmas. mike it here in 15 minutes time with the rest of the day's news. that was about it for me, i will see you then. get in touch. now it is time for sport today, see you soon. hello. this is sport today, live from the bbc sport centre. coming up on this programme: holders, manchester united, knocked out of the english league cup with a late korey smith goal sealing second tier bristol city a semi—final place.
bayern munich knock holders borussia dortmund out of the german cup and move through to the quarter—finals. hello. a lot to come. in the night's other tie, alvaro morata scored a late winner for chelsea as they beat bournemouth 2—1 at stamford bridge. chelsea will now face arsenal in the semi—finals, while bristol city's reward for beating manchester united is a two—legged semi—final against manchester city. what a night at ashton gate. lee johnson's bristol city